Apparatus for tapping a hole in a pipeline adapted to be attached to a support assembly having sealed communication with the exterior of a pipeline and having a tapping machine body with a boring bar rotatably supported therein with a circular cutter at the lower end thereof, a feed screw rotatably supported by the tapping machine body for axially positioning the boring bar, a hydraulically powered boring bar drive assembly within the tapping machine body driving the boring bar, a hydraulically powered feed screw drive assembly within the tapping machine body driving the feed screw and an auxiliary drive shaft affixed to rotate the feed screw drive assembly extending exteriorly of the tapping machine body and adapted to receive supplementary mechanical rotary energy for rotation of the feed screw so the boring bar can be retracted if hydraulic power is lost. A pressure compensation system permits the apparatus to be operated in a subsea environment. A position indicating system permits the location of the boring bar to be read out at a remote location, such as on the ocean's surface and an improved coupon retainer is provided.